French syndicate K-Challenge is preparing its 2009 America's Cup campaign and hopes to have found a major sponsor by the end of next month to help finance a minimum budget of 30 million euros.

Stephane Kandler, who heads the syndicate, said he was in talks with potential sponsors in France and abroad, as well as private investors, to try and quickly find a main sponsor who will provide half of the budget.

"The team is ready," Kandler told AFP. "Now we need sponsors."

K-Challenge competed in the 2007 edition of the event under the name Areva Challenge, finishing in a disappointing eighth place out of 11 boats.

French industrial group Areva, who contributed 12 million euros, said they were willing to jointly sponsor a new French challenge but told AFP on Monday that, at that point, they had not been asked to do so.